20 Trillion Reasons to Address National Debt Right Now

“Extremely deep. Last week, our country passed a regrettable milestone when we exceeded $20 trillion in debt.”

“How the heck did we get ourselves into such a hole?”

“According to The Hill, last week’s debt-limit increase and stopgap government funding bill resulted in one of the largest single-day debt increases in U.S. history. It was enough to push us beyond the $20 trillion mark.”

“But haven’t our politicians been borrowing big long before last week?”

“That’s correct. Since 2002, our politicians have increased the debt nearly $14 trillion. We have been spending, on average, roughly $930 billion per year more than we have taken in in tax receipts.”

“That’s a lot of cabbage. The numbers are so big, they are hard for average folks to understand.”

“TV reporter Jake Tapper explained our debt and spending in a manner that makes it easier to understand. By removing eight zeroes from the federal budget’s $4.1 trillion total, he came up with a sum of $41,000, which is easier to comprehend.”

“Go on.”

“Well, let’s say you’re a typical American whose bills are $41,000 a year – mortgage, car payments, groceries and so on. Here’s the problem: Though you’re spending $41,000 annually, your income is only about $36,000. That means you’re growing your debt by nearly $5,000 every year.”

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